Digital Domain Media Group: Holographic Financials
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Sep. 24, 2012, 9:26 AMBankrupt Digital Domain (DDMGQ.PK) has sold its Venice, CA and Vancouver studios to a JV owned by China's Galloping Horse and India's Reliance MediaWorks for $30.2M through a bankruptcy option. The JV's offer is more than twice the size of an earlier bid from P-E firm Searchlight Capital. Digital Domain closed with a market cap of $11.8M on Friday, but bondholders will get first dibs at the company's assets. | Comment!
Aug. 1, 2012, 11:59 AMDigital Domain (DDMG +12.7%) jumps in mid-day trading after announcing it will work with i-banks and advisers to pursue "strategic and financial alternatives." Options mentioned by the digital animation services firm include JVs, asset sales, minority investments, and a full-blown sale of the company. (PR) | Comment!
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